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Startup Pivot Stories #1: How TokBox Changed Its Business Model

After reading lots of posts on 'lean startups', listening to Eric Reis in Seedcamp and devouring Steve Blank's "Four Steps to the Epiphany", I wanted to see real examples of companies that went through a pivot process. By definition, a Pivot, is a change in the company's strategy or business model when things aren't exactly working out according to the business plan. The first post in the series is on TokBox, a startup that went through a business model change and managed to generate significant value as a result.